QSE edges up marginally amid domestic funds’ buying interests

The Qatar Stock Exchange (QSE) on Tuesday gained mere three points despite domestic institutions' strong buying interests.

Amidst rising expectations of an interest rate cut in the US by next month, the 20-stock Qatar Index was up 0.03% to 10,158.57 points, but recovering from an intraday low of 10,117 points.

The real estate, telecom and consumer goods counters saw higher than average demand in the main market, whose year-to-date losses truncated to 6.21%.

As much as 58% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR0.17bn or 0.08% to QR587.94n on the back of microcap segments.

The Gulf institutions were seen increasingly net buyers in the main market, which saw 0.02mn exchange traded funds (sponsored by Doha Bank) valued at QR0.17mn trade across 10 deals.

The foreign retail investors were seen bullish in the main bourse, which saw no trading of treasury bills.

However, the foreign funds were increasingly net profit takers in the main market, which saw no trading of sovereign bonds.

The Islamic index was seen outperforming the other indices in the main bourse, whose trade turnover and volumes were on the incline.

The Total Return Index was up 0.03%, the All Islamic Index by 0.23% and the All Share Index by 0.02% in the main market.

The realty sector index gained 0.85%, telecom (0.37%), consumer goods and services (0.24%) and transport (0.07%); while industrials declined 0.13% and banks and financial services (0.04%). The insurance index was rather unchanged.

Major movers in the main bourse included Al Faleh Educational Holding, Barwa, Beema, Qatar Electricity & Water, Medicare Group and Inma Holding. In the venture market, Al Mahhar Holding saw its shares appreciate in value.

Nevertheless, QLM, QIIB, Gulf International Services, Salam International Investment, Industries Qatar and Commercial Bank were among the shakers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.

The domestic institutions’ net buying increased substantially to QR17.79mn compared to QR1.36mn on August 19.

The Gulf institutions’ net buying strengthened notably to QR3.39mn against QR0.49mn the previous day.

The foreign individuals turned net buyers to the tune of QR1.87mn compared with net sellers of QR1.65mn on Monday.

However, the foreign institutions’ net selling strengthened significantly to QR14.39mn against QR1.68mn on August 19.

The Qatari individual investors’ net profit booking grew markedly to QR5.94mn compared to QR2.73mn the previous day.

The Arab retail investors were net sellers to the extent of QR1.66mn against net buyers of QR4.06mn on Monday.

The Gulf individuals turned net profit takers to the tune of QR1.04mn compared with net buyers of QR0.2mn on August 19.

The Arab institutions’ net selling eased marginally to QR0.02mn against QR0.04mn the previous day.

Trade volumes in the main market were up 7% to 101.84mn shares, value by 21% to QR272.09mn and transactions by 19% to 11,948.

The venture market saw 88% surge in trade volumes to 3.93mn equities, 94% in value to QR8.49mn and 51% in deals to 224.